Here are some common sources of primary and secondary data: Primary data sources: - Surveys (questionnaires, interviews) - Experiments - Observations - Focus groups Secondary data sources: - Government data (census data, vital statistics) - Published research studies - Organizational records and documents - Media reports - Commercial data providers

1. Course Title: Business Statistics
BBA (Hons)
2nd
Semester
Course Instructor: Atiq ur Rehman Shah
Lecturer, Federal Urdu University of Arts,
Science & Technology, Islamabad
+92-345-5271959
aatresh@gmail.com

2. Learning Objectives
• Define statistics
• Become aware of a wide range of
applications of statistics in business
• Differentiate between descriptive and
inferential statistics
• Learn about population and samples
• Collection of data
• Types of data

3. What is Statistics?
• Statistics is the science of conducting
studies to collect, organize, summarize,
analyze and draw conclusions from data.

4. Statistics in Business
• Accounting — auditing and cost estimation
• Economics — regional, national, and international
economic performance
• Finance — investments and portfolio management
• Management — human resources, compensation, and
quality management
• Management Information Systems — performance of
systems which gather, summarize, and disseminate
information to various managerial levels
• Marketing — market analysis and consumer research
• International Business — market and demographic
analysis

5. Population Versus Sample
• Population — the whole
• a collection of persons, objects, or items under
study
• Sample — a portion of the whole
• a subset of the population

6. Population

7. Population
Identifier Color
RD1 Red
RD2 Red
RD3 Red
RD4 Red
RD5 Red
BL1 Blue
BL2 Blue
GR1 Green
GR2 Green
GY1 Gray
GY2 Gray
GY3 Gray

8. Sample and Sample Data
Identifier Color
RD2 Red
RD5 Red
GR1 Green
GY2 Gray

9. Branches of Statistics
• Descriptive statistics
• Inferential statistics

10. Descriptive statistics
• Descriptive statistics consists of the
collection, organization, summarization and
presentation of data.
• In descriptive statistics the statistician tries
to describe a situation.

11. Inferential statistics
• Inferential statistics consists of the
generalizing from samples to population,
performing estimations and hypothesis test,
determining relationships among variables,
and make predictions.
• In inferential statistics, the statistician tries
to make inferences from sample to
population

12. Collection of data- Levels of Data
Measurement
• Nominal
• Ordinal
• Interval
• Ratio

13. Nominal Level Data
• Numbers representing nominal level data
are used only to classify or categorize.
Example: Gender
1. Male
2. Female
Example: Geographic location
1. Punjab
2. Sindh
3. KPK
4. Baluchistan

14. Ordinal Level Data
• Numbers are used to indicate rank or order
• Relative magnitude of numbers is meaningful
• Differences between numbers are not comparable
Example: Ranking productivity of employees
Employee Rank
A 2
B 3
C 1

15. Example of Ordinal Measurement
f
i
n
i
s
h
1
2
3
4
5
6

16. Ordinal Data
Do you think your university is providing you
adequate facilities??
1 2 3 4 5
Strongly
Agree
Agree Strongly
Disagree
DisagreeNeutral

17. Interval Level Data
• Distances between consecutive integers are
equal
• Relative magnitude of numbers is meaningful
• Differences between numbers are comparable
• Location of origin, zero, is arbitrary
Example: Fahrenheit Temperature
30*, 31*, 32*, 33*

18. Ratio Level Data
• Highest level of measurement
• Relative magnitude of numbers is meaningful
• Differences between numbers are comparable
• Location of origin, zero, is absolute (natural)
Examples: Height, Weight etc

19. Types of data
• Primary data
• Original data collected for a specific research goal.
• Secondary data
• Data originally collected for a different purpose and
reused for another research question.

20. Activity
What are the sources of primary and
secondary data????